Select Sands Corp SLSDF

Primary Symbol: V.SNS

Metals & Mining Industrial Metals & Minerals

Select Sands Corp. is a Canada-based industrial silica product company, which wholly owns a Tier-1 silica sands property and related production facilities located near Sandtown, Arkansas. The Company is engaged in mining its 520-acre site in Arkansas named the Sandtown quarry. The property is underlain by the Ordovician St. Peter sandstone formation, the source of industrial silica sand Ottawa White frac sand, selling into various United States oil and gas and industrial and specialty end markets. These properties include sand sphericity and roundness, crush (K Value), acid solubility, turbidity and silicon dioxide (SiO2) content. The Company is focused on developing this business to enable commercial silica sand sales to industrial and energy customers. Its Plant Reconfiguration Project includes installation of dry-process equipment at the Diaz Rail Facility.

TSXV:SNS - Post by User

Select Sands Corp > 64% of the Gross Margin-Unprecedented SG&A

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Post by RasoolMohammad1on Sep 01, 2021 1:43pm

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Post# 33795157

64% of the Gross Margin-Unprecedented SG&A

For the Company of Market Cap: $5, 191, 000, Executive and Board Compensation: $407,000(CAD) Compensation (Perks, Mercedes allowances), Houston Office (not needed)) is unheard of.
In other words 64% of the gross profit -not net profit-(Q2:$322K/$501k)- goes to the Executive compensation, board compensation, 5 star office with robotic equipment for a company with a market cap of just $5MM????.The balance of the gross profit goes to the payment on interest ($133,000).
Nice lifestyle support company!!
In other words the company loses US$4.21 for every ton the company sells (Q2: Operating Loss of $358,000/85,000 tons)
Any bits on when the bankruptcy is coming?

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